Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in worth 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 due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver British 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 drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
