Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
