Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
