Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in 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 cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
