Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned 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 Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
