Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
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 said: "We are providing no comment on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
