Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
