Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's 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 for Nico Rosberg, from 2014 and 2021.
