Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
