Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix 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 unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
