Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings 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 to 2021.
