Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth 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.
