Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
