Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
