Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
