Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
