Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
