Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
