LONDON :Toto Wolff is in advanced talks to sell part of his stake in Mercedes F1 in a deal that would value the Formula One team at a record $6 billion, Sportico and the Financial Times reported on Tuesday.

Wolff, Mercedes-Benz and Ineos currently each hold 33 per cent stakes.

Mercedes said it would be making no comment on the reports but added "the governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

The reports indicated the Austrian - who serves as team principal as well as head of Mercedes motorsport - planned to bring an outside investor into the holding company that owns his stake.

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