Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
