Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge reflects the expansion 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 success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
