Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
