Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
