Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years 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 debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
