Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
