Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
