Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
