Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
