Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
