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 £4.6 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.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
