Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
