Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
