Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding 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 Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
