Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
