Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
