Mercedes team principal Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
