Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
