Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver 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.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
