Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
