Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.