Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring 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 highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
