Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of corporate structure in 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 boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship 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 for Nico Rosberg, between 2014 to 2021.
