Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a significant increase in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
