Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
An official representative said: "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."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
