Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to 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 debuted last summer and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
