Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
