Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners 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 official statement on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
