Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
