Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
