Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
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 are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
