Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
