Toto Wolff is engaged in final negotiations to sell a portion 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 – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
