Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently 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 Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
