Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
