Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits 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 Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
