Toto Wolff is engaged in final negotiations to offload a portion 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 the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
