Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
