Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
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 2 of the 21 grands prix so far 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 consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
