Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
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-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208 million 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 trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
