Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
The deal would represent a significant increase in value of the Mercedes team 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 the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
