Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
