Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
