Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has won 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 won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
