Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
