Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
The Mercedes team 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 behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
