Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
