Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds 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
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
