Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
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 (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
