Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
