Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
