Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
