Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
