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 a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
