Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative stated: "We will be making no comment on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
