Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
