Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind 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 in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
