Toto Wolff is engaged in advanced talks to offload 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 – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
