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 were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
