Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
