Toto Wolff is engaged in final negotiations to sell part of his ownership stake 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 in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races 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 after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
