Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring 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 most successful sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
