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 values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
