Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has won two 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's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
