Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
