Mercedes team principal Toto Wolff is engaged in advanced talks to sell 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 ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
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 will be making no official statement on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
