Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
