Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
