Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind 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 for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
