Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star 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 most successful sports film ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers 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 won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
