Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
