Mercedes team principal Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far 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 consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
