Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
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 $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
