Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise 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 featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
