Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
