Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
