Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
