Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
