Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
