Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
