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 £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
