Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
