Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
