Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver George Russell has secured victory in two 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 team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
