Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion 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 box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
