Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently 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 featuring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
