Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
