Toto Wolff is engaged in final negotiations to sell part 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 McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 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-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge reflects 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 featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
Mercedes 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 individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
