Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship 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 driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
