Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races 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 straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
