Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year 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 consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
