Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
