Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate 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 if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
