Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders 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 comment on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
