Toto Wolff is engaged in advanced talks to sell part 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 the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
