Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
