Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.