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 estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's 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 for Nico Rosberg, from 2014 to 2021.
