Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team 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.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
