Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 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 secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
