Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise 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 box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
