Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team will remain unchanged, 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 Group bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
