Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
