Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
