Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
