Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group 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 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
