Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old would stay on 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, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
This arrangement would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
