Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following 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, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
