Toto Wolff is 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 a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind 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 won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
