Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
