Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
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 (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won 2 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 and 2021.
