Mercedes team principal Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
