Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain 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, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
