Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
