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 £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie 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 film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
