Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
