Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
