Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
