Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
