Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
