Mercedes team principal Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
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.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
