Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind 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 for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
