Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
