Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 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.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
