Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
