Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
