Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Present Standings
Mercedes are second 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 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
