Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Growth
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up 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 so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.