Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in market values 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 Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
