Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 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 secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
