Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year 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 secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
