Toto Wolff is engaged in final negotiations to offload 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 – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
