Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
