Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity 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 last summer and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
