Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
