Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film ever released.
Present Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
