Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208m 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 box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won two 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 Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
