Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
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 and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
