Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in two 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 Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
