Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
