Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two 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's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
