Toto Wolff is reportedly in advanced discussions to sell a portion of his stake in the Mercedes Formula 1 team, in a deal that could value the team at a record $6 billion, according to Sportico and the Financial Times.

Wolff currently owns a 33% share in the team, alongside Mercedes-Benz and Ineos, which each hold equal stakes.

While Mercedes declined to comment on the reports, the team stated that its governance structure will remain unchanged and that all three partners remain “fully committed to the ongoing success of Mercedes-Benz in Formula One.”

Sources cited by the Financial Times said Wolff plans to bring in an external investor through the holding company that owns his stake. The unnamed investor is expected to acquire around 5% of the team, with Wolff maintaining his leadership roles as team principal and head of Mercedes motorsport.

Sportico similarly described the deal as involving a “mid-single-digit” stake.

Mercedes dominated Formula 1 between 2014 and 2021, winning eight consecutive constructors’ titles, and currently sits second in the 2025 standings after 21 of 24 rounds.

Meanwhile, McLaren, powered by Mercedes engines, has secured the constructors’ championship for the second straight year and appears poised to claim the drivers’ title as well. The team is now fully owned by Bahrain’s Mumtalakat and Abu Dhabi’s CYVN Holdings, following a 2024 deal valuing McLaren Racing at $5 billion.