Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
