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 were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake 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 should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
