Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
