Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
