Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
