Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer 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 enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
