Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
