Mercedes team principal Toto Wolff is 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 – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
