Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 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's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
