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 estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
