Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two 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.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
