Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three races left this season.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.