Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
