Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has won 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's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
