Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
