Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
