Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
