Toto Wolff is in final negotiations to sell a portion 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 – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
