Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, 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 fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
