Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
