Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
