Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star 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 most successful sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
