Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
