Toto Wolff is engaged 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 an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
