Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Performance
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer 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 won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
