Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
