Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
