Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
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 remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
