Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth 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 team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
