Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
