Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
