Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star 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 highest-earning sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
