Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
