Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
