Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
