Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
