Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
