Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
