Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
