Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
The rise 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 Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, 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 in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
