Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
