Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
