Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
