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 McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left 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.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
