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 a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team 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 comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
