Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers 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, from 2014 and 2021.
