Toto Wolff is engaged in final negotiations to offload a portion 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 McLaren were valued at £3.5bn in a change of ownership 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.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship 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 to 2021.
