Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
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 two 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 unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
