Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 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 Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
