Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
