Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
