Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
