Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races 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 consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
