Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
