Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on this. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
