Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no comment on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
