Toto Wolff is engaged in final negotiations to offload part of his ownership stake 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 an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
