Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge reflects 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 Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
