Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds 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 chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
