Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
