Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the team standings, behind 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 this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
