Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
