Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unaltered, 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 Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
