Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative said: "We are providing no comment on this. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
