Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
