Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Present Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
