Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
