Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, 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
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in 2 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 won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
