Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations 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 was released last summer and earned more than $630 million (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
