Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake 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 both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
