Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
