Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
