Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
