Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
