Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
