Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its stake 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 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races 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.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
