Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
