Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won two 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 unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
