Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, behind 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 in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
