Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
