Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
