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 £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
