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 £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
