Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film 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 the actor's top-grossing movie and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
