Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth 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 as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British 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 consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
