Toto Wolff is in advanced talks to sell a portion 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 – after McLaren were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren drivers 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 by Nico Rosberg, between 2014 and 2021.
