Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
