Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
