Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 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 straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
