Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
