Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
