Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won 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 Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
