Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the growth in valuations 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 success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver 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 Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
