Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races 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 drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
