Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
