Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far 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 secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
