Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
