Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired 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 was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
