Mercedes team principal Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "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
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
