Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
