Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings 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 drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
