Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
