Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
