Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
