Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
