Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
