Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
