Mercedes team principal Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
