Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates 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 last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
