Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
