Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
