Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
