Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
