Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
