Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
