Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
