Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 2 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 Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
