Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
