Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won two of the 21 races 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 record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
