Toto Wolff is in final negotiations to sell 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 McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion 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 F1 movie starring Hollywood star Brad Pitt, which was released 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 highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
