Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Growth
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
