Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
