Mercedes team principal Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
