Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
