Mercedes team principal Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a 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 the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
