Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates 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 box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer 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.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
