Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer 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 Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, 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 behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
