Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, 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 the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
