Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – 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, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
