Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
