Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
