Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 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 $630 million (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix 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 drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
