Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion 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 box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
