Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far 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 unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
