Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
