Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
