Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 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's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
