Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
