Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams 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 F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
