Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
