Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years 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 starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
