Toto Wolff is in final negotiations to sell a portion 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 the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year 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 secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
