Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record 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 holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer 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 behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
