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 values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
