Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
