Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
