Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races 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 individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
