Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
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 and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
