Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two 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.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
