Mercedes team principal Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the individual standings behind McLaren's 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 for Nico Rosberg, between 2014 to 2021.
