Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth 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 box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
