Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
