Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British 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's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
