Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
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 and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
