Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
