Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
