Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
