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 estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie 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 won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
