Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team boss 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 both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unaltered, 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 worth of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
