Mercedes team principal Toto Wolff is engaged in final negotiations to offload part 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 – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver 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's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
