Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise reflects the expansion 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 success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the team standings, behind 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 fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
