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 £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far 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 constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
