Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
