Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
