Mercedes team principal Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
