Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.