Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
