Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
