Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal would represent a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
