Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on this. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
