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 estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth 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 in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
