Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
