Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
