Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
