Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver 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 Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
