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 – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes 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.
