Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after 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 the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
