Toto Wolff is engaged 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 a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, 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.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
