Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised 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.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
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 earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
