Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring 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 movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won 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 won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
