Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative said: "We are providing no official statement on this. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise reflects 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 F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
