Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix 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.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
