Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's 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 won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.