Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team 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 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
