Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
