Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£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 team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
