Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
