Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
