Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $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 constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
