Mercedes team principal Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
