Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
