Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
