Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix 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 record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
