Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
