Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, 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 unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
