Mercedes team principal Toto Wolff is engaged in final negotiations to offload part 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 the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has won 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's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
