Toto Wolff is engaged 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 were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
