Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth 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 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 the box office.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up 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 in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
