Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values 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 box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
