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 – following McLaren were valued at £3.5bn in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
