Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on 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 enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
