Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
