Toto Wolff is in advanced talks to sell part 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 was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
