Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits 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 Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead 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 consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
