Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races 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 record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
