Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings after McLaren drivers 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 by Nico Rosberg, between 2014 to 2021.
