Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 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, who both hold one-third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
