Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
