Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
