Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
