Mercedes team principal Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
