Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
