Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the growth in market values of F1 teams 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 Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
