Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
