Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present 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 two of the 21 grands prix so far and is in fourth place in the drivers' championship after 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 for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
