Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
