Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won two 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's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
