Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits 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 Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
