Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team 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 corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings behind 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.
