Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
