Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 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 Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races 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 won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
