Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
