Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
