Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
