Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
