Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
