Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 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 and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
