Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
