Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 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 won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
