Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
