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 – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
