Mercedes team principal Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
