Toto Wolff is 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 were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits 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 debuted last summer and earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
