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 £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Standings
Mercedes are second in the team standings, behind McLaren, 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 after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
