Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake 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.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
