Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes 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.
