Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races 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.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
