Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
