Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We are providing no official statement on this. The management structure of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
