Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
