Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
