Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
