Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
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 Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
