Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 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 won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
