Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
