Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion 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 F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
