Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion 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 success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
