Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
