Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of 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 debuted last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
