Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's 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 won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
