Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
