Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
