Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
