Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
