Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
