Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
