Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
