Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – 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 a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
