Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races 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 straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
