Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
