Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
