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 – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
