Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
