Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
