Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge 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 Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races 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 team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
