Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
