Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
