Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder 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 since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races this year 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 record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
