Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix this year 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 record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
