Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
