Toto Wolff is engaged in final negotiations to sell part 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 the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful 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 in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
