Mercedes team principal Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
Mercedes are second in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
