Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements 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 £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
