Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
