Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
