Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
