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 estimates Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, 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 Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British 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 drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
