Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
