Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
