Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
