Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
