Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
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 drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
