Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 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 and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
