Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
