Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers 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 for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
