Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
