Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
