Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies 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 market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British 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 won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
