Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
