Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
