Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
