Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
