Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
