Mercedes team principal Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no comment on this. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two 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 won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
