Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship after 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 drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
