Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
