Toto Wolff is engaged in final negotiations to sell 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 McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
