Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
