Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
