Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
An official representative said: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
