Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 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 Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
