Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has won two 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 secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
