Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
