Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no comment on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
