Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
