Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure 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 holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
