Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams 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 debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver 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 Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
