Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining 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 after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
