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 £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
