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 – after McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
