Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
