Toto Wolff is 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 McLaren was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
