Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding 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 was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, 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
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits 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 Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
