Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
