Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
