Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
