Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the company.
An official representative said: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
