Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Present Performance
Mercedes are second 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 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
