Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m 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 trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
