Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
