Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
