Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring 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 highest-earning sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
