Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind 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, between 2014 to 2021.
