Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place 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 for Nico Rosberg, between 2014 and 2021.
