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 – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
