Mercedes team principal Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
