Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
