Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship 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 drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
