Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won 2 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 straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
