Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
