Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
