Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
