Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
