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 an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own 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 unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
