Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
