Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 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 Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
