Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
