Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
