Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
