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 – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
