Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
