Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
