Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
