Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
