Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
