Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
