Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
