Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We are providing no official statement on this. The governance 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 worth of the Mercedes team after Ineos bought its share 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 growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
