Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised 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 shareholding 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-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
