Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds 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 if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
