Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
